Sheffield Corp. closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following.

Sheffield Corp.closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year- end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following Date April 21 May 25 June 30 Maker Coote Inc. Brady Co. BMG Corp. Face Value $4,000 7,200 10,800 Term 90 days 60 days 6 months Maturity Date July 20 July 24 December 31 Interest Rate 8% 9% 6% During July, the following transactions were completed. July 5 14 Made sales of $4,140 on Sheffield Corp.credit cards. Made sales of $400 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co.on the amount due. 20 24 Your answer is partially correct. Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. Interest is computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Accounts Receivable uly 5 4140 Sales Revenue 4140 14 Cash 382 Service Charge Expense 18 Sales Revenue 400 uly 20 Cash 4320 Notes Receivable 4000 Interest Revenue 320 uly 24 Cash 7848 Notes Receivable 7200 Interest Revenue 648 uly 31 Interest Receivable 54 Interest Revenue 54 e Textbook and Media List of Accounts * Your answer is incorrect. Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable eTextbook and Media List of Accounts X Your answer is incorrect. Show the balance sheet presentation of the receivable accounts at July 31. Sheffield Corp. Balance Sheet (Partial) $ e Textbook and Media List of Accounts